EDMONTON - Alberta is on track for a $6.9-billion budget deficit amid speculation voters will go to the polls this spring before a new budget is introduced. The budget had originally forecast a deficit of $8.8 billion, but Finance Minister Joe Ceci says a lower dollar and higher than expected bitumen royalties have helped reduce the red ink. Ceci released the numbers as part of a third-quarter update for the current fiscal year. Total revenue this year is forecast at $49.6 billion and [Read more]
Headlines
Journey Energy Inc. Reports 2018 Reserves and Provides an Update on its Emerging Duvernay Resource Play
CALGARY, Feb. 27, 2019 /CNW/ - Journey Energy Inc. (JOY – TSX) ("Journey" or the "Company") is pleased to report its year-end 2018 oil and gas reserves evaluation. During 2018, the Company invested approximately $27 million in capital projects net of acquisition and divestiture ("A&D") activities. Exploration and development ("E&D") activities accounted for approximately $32 million while A&D activities resulted in net proceeds of approximately $5 million. E&D activities [Read more]
Tamarack Valley Energy Ltd. Announces Record 2018 Financial and Operating Results Including 43% Increase in Total Adjusted Operating Field Netbacks, 20% Increase in Production and 22% Increase in Oil Reserves
TSX:TVE - CALGARY, Feb. 27, 2019 /CNW/ - Tamarack Valley Energy Ltd. ("Tamarack" or the "Company") is pleased to announce its financial and operating results for the three and twelve months ended December 31, 2018 and the results of its independent oil and gas reserves evaluation as of December 31, 2018, prepared by GLJ Petroleum Consultants Ltd. ("GLJ"). Selected financial, operational and reserves information is outlined below and should be read with Tamarack's audited consolidated financial [Read more]
Develop Your Financial Model – And A Strategic Advantage
When key business decisions need to be made in short time frames amid a backdrop of market volatility, a robust financial model remains one of the top tools in your company’s arsenal to evaluate the consequences of your strategy. Bank of Canada Governor Stephen Poloz has cautioned Canadians to be prepared for economic volatility (although he has stated to national media that he is not expecting a recession in 2019). Recent historic actions by Alberta’s provincial government to raise oil [Read more]
XI Technologies: Celebrating Canadian E&P Accomplishments in the last year
Each week, XI Technologies scans their unique combination of enhanced industry data to provide trends and insights that have value for professionals doing business in the WCSB. This week we’ve dug into our drilling data to give you our biannual Drilling Top Tens. If you'd like Wednesday Word to the Wise delivered directly to your inbox, subscribe here. Canada’s energy industry is not only the most carefully managed, regulated, and environmentally responsible in the world, it’s also one of the [Read more]
A Crisis for Future Canadian Resource Development: Bill C-69
Global News reported on Friday, February 22 the National Energy Board Canada concluded that the Trans Mountain Expansion Project is in the Canadian public interest and has recommended that the project be approved. This project, which would triple the capacity of the existing pipeline between Edmonton and Burnaby B.C. has been in limbo while the federal government attempts to fulfill the Supreme Court’s requirements. The decision starts the clock on a 90-day deadline for cabinet to decide [Read more]
Toscana Energy Announces 2018 Reserves
CALGARY, Alberta, Feb. 26, 2019 (GLOBE NEWSWIRE) -- Toscana Energy Income Corporation ("TEI" or the "Corporation") (TSX: TEI) announces the Corporation’s 2018 year-end reserves. 2018 Reserves Highlights Increased the weighting of crude oil and NGL reserves to 53% over the reserve base, from 39% in 2017. Proved Developed Producing reserves represent 81% of Proved Reserves. Proved reserves represent 78% of Proved plus Probable Reserves. Net Asset Value (NAV) per share on a Proved [Read more]
New Oil and Gas Jobs From BOE Report Jobs
Here are the latest oil and gas job postings courtesy BOE Report Jobs. To search and filter all the latest jobs, visit the BOE Report job board. All job listings are free to post for companies. Sign up to create an account to post jobs; it’s simple and easy to use. Posting Date Job Title Company Location Feb. 25 Administration Support Roska DBO Grande Prairie Feb. 25 Pipeline In-Line Inspection Tool Field Supervisor Imperial Oil Edmonton Feb. 25 Pipeline [Read more]
The cost of Decarbonization: how much green to go green?
There is a lot of discussion about “decarbonization” to address the threat of Climate Change. This is the process of weaning the world’s economy away from carbon based energy (coal, oil and natural gas), and replacing it with non-carbon based renewables. This article attempts to cost out the process on a global scale. Normally, we would do a “cost-benefit” analysis, but with this issue benefits are completely subjective. Depending on whether one is a climate change skeptic or believer, [Read more]
Alberta Premier Rachel Notley to speak to Senate committee on energy projects
EDMONTON - Alberta Premier Rachel Notley is to make her case in person to a Senate committee studying proposed legislation that would change how major energy projects are approved. Notley is to appear before the energy, environment and natural resources committee on Thursday. She and her government have already spoken out against Bill C-69, which has passed in the House of Commons and is now before the Senate. The bill proposes a new way of handling environmental [Read more]